I'm so bad at story problems... please help! Is this a Pe^rt eqation? "You put $2500 into your savings account. The bank will continuously compound your money at a rate of 6.5%. Write the equation that would find the total amount in your account after a period of 3 years."

Question

I'm so bad at story problems... please help!  Is this a Pe^rt eqation?  "You put $2500 into your savings account.  The bank will continuously compound your money at a rate of 6.5%.  Write the equation that would find the total amount in your account after a period of 3 years."

anonymous · Answer

"continuously compound"
 Is this a Pe^rt eqation? 
Yes,

anonymous · Answer

Aren't there other formulas for story problems like this that are like Pe^rt?

anonymous · Answer

So would the answer be 2,500e^.065(3)?

anonymous · Answer

If it were not continuously compounded
$$P\left(1+\frac{R}{N}\right)^{\text{NT}}$$
R=rate
n= compounded how many times
t=  years
P= pricipal

anonymous · Answer

You're way smart, thanks!